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During 2021, $561,920 of materials were purchased. Operating cost data and inventory account balances for 2021 as follows: Direct Labour ($15,430) hours at $8.50
During 2021, $561,920 of materials were purchased. Operating cost data and inventory account balances for 2021 as follows: Direct Labour ($15,430) hours at $8.50 per hour Plant Supervision Indirect Labour (50,280 hours at $5.25 per hour) Factory Insurance Utility Depreciation-Factory Building Depreciation-Equipment Manufacturing Supplies Repair and Maintainenece Setting and Administrative expenses Materials inventory-Jan. 1 2021 Work-in process inventory-Jan. 1 2021 Finished Goods Inventory-Jan. 1 2021 Materials inventory-Dec.31 2021 Work-in process inventory-Dec. 31 2021 Finished Goods Inventory-Dec. 31 2021 131,155.00 52,500.00 263,970.00 8,100,00 29,220.00 46,200.00 92,800.00 9,460.00 14,980.00 96,480.00 26,490.00 101,640.00 148,290.00 24,910.00 100,400.00 141,100.00 Required: 1) Compute the cost of materials used during the year 2) Given the cost of materials used, compute the total manufacturing costs for the year 3) Given the total manufacturing costs for the year, compute the costs of goods manufactured during the yea
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